Please find attached the unaudited financial results for the quarter ended September 30, 2025 together with Limited Review Report, Statement of Assets and Liabilities, Cash Flow Statement ....
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Gujarat State Financial Corporation reported a net loss of Rs. 31.96 crore for Q2 FY26 and Rs. 62.98 crore for H1 FY26, compared to a loss of Rs. 31.45 crore and Rs. 62.66 crore in the corresponding prior-year periods. Total income from operations stood at Rs. 4.25 crore for the quarter, while interest expenses remained huge at Rs. 35.54 crore, driving the persistent losses. The corporation's reserves are deeply negative at Rs. 3,217.64 crore, indicating its net worth is completely eroded. Most strikingly, both Gross NPA and Net NPA stand at 100%, meaning all loan advances are classified as non-performing. The statutory auditors issued a qualified opinion flagging the use of going concern basis despite eroded net worth and defaulted repayment obligations, along with unconfirmed government dues.
This is a deeply distressed state financial corporation with no active lending since FY 2001-02, complete erosion of net worth, 100% NPAs, and an auditor-qualified report citing going concern doubts — shareholders face continued losses with no clear turnaround in sight, and the stock is unlikely to find support on fundamental grounds.